Akamai Technologies, Inc. (NASDAQ:AKAM) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its stake in shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,434 shares of the technology infrastructure company’s stock after selling 2,637 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Akamai Technologies were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Ancora Advisors LLC grew its position in shares of Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 127 shares in the last quarter. Zions Bancorporation N.A. increased its stake in Akamai Technologies by 73.7% in the 3rd quarter. Zions Bancorporation N.A. now owns 311 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 132 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in Akamai Technologies by 625.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 348 shares of the technology infrastructure company’s stock worth $29,000 after acquiring an additional 300 shares during the period. General Partner Inc. bought a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $31,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 90.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AKAM. Royal Bank of Canada lowered Akamai Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $100.00 to $85.00 in a research note on Wednesday, February 15th. Loop Capital decreased their target price on Akamai Technologies from $91.00 to $79.00 and set a “hold” rating on the stock in a report on Wednesday, March 1st. Robert W. Baird increased their target price on Akamai Technologies from $89.00 to $94.00 in a report on Friday, May 12th. Piper Sandler upgraded Akamai Technologies from a “neutral” rating to an “overweight” rating and set a $93.00 target price on the stock in a report on Monday, April 10th. Finally, StockNews.com assumed coverage on Akamai Technologies in a report on Thursday. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.06.

Insider Buying and Selling at Akamai Technologies

In other news, CTO Robert Blumofe sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $72.08, for a total value of $288,320.00. Following the transaction, the chief technology officer now owns 29,716 shares in the company, valued at $2,141,929.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Akamai Technologies news, EVP Aaron Ahola sold 3,471 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $74.76, for a total transaction of $259,491.96. Following the completion of the sale, the executive vice president now directly owns 17,798 shares in the company, valued at approximately $1,330,578.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Robert Blumofe sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $72.08, for a total value of $288,320.00. Following the completion of the sale, the chief technology officer now owns 29,716 shares of the company’s stock, valued at $2,141,929.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 9,925 shares of company stock worth $776,054 and have sold 28,647 shares worth $2,159,036. Company insiders own 1.80% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM opened at $87.27 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $13.28 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.96 and a beta of 0.81. The stock has a 50 day moving average of $79.47 and a 200 day moving average of $83.41. Akamai Technologies, Inc. has a 12 month low of $70.65 and a 12 month high of $102.83.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The technology infrastructure company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. Akamai Technologies had a return on equity of 14.63% and a net margin of 12.50%. The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $912.13 million. During the same period last year, the company earned $1.12 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Akamai Technologies, Inc. will post 4.48 earnings per share for the current year.

About Akamai Technologies

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Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.